JAKARTA (Yosefardi) – State-owned bank PT Bank Rakyat Indonesia Tbk (BRI) is currently facing a lawsuit for default allegation in Central Jakarta District Court.
The lawsuit was filed by PT Riau Agro Mandiri. The livestock producer claimed that it has suffered substantial loss caused by BRI’s default.
Riau Agro seeks for Rp7.66 billion compensation for material loss and Rp210.27 billion for immaterial loss. Both parties had in 2007 signed credit facility agreement.
Dispute emerged when BRI was late to issue the letter of credit (LC) for Riau Agro. The LC was proposed in September 2008, to fund the cattle import.
In the note of defense, BRI argued that the bank did not commit any default and the L/C was issued according to the procedure. (indrab@yosefardi.biz)